In the third quarter of 2024, General Motors and its joint ventures shipped nearly 426,000 vehicles to China (July-September 2024). The sequential growth rate for the quarter was 14.3%, which was the highest since Q3 2022. For the first time, GM’s sales of new energy vehicles (NEVs)—which include plug-in hybrids (PHEVs) and battery electric vehicles (BEVs)—surpassed those of internal combustion engine (ICE) vehicles in China. Over 224,000 NEVs were delivered, making up 52.7% of GM China’s Q3 total and a 60.7% increase over the previous year.
Steve Hill, senior vice president of General Motors and head of GM China, stated, “We are building momentum for both sales volume and market share in China.” “We are concentrating on increasing sales and reducing expenses in order to bring our business back to profitability in China.”
Delivery of Buicks surpassed 67,000 units. The GL8 family is the market leader in its class and was the first high-end multipurpose car in China to reach the 2 million mark in both sales and manufacture. Sales of the GL8 exceeded 27,000 units in the third quarter, with its first-ever PHEV variant—which debuted in April—accounting for almost 45% of those sales.
Delivery of Cadillacs exceeded 21,000. The CT5, a high-end sedan, continued to be the brand’s best-selling model for an extended period of time. During the quarter, Cadillac introduced the all-new XT5, which is expected to further solidify the brand’s position in the luxury SUV market based on early customer purchases.
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